Member Info for Obadhia

Jamesiebabie on ADVFN interestingly adds the comment that Twin Butte (Mkt cap £290M and producing 22000boe/d) are our neighbours, we share contiguous territory. Our present market value of £12m is not what any M&A team would be focused on, it's irrelevant, the key fact is that Eye Hill East, developed, could add a further 50% to TB's production and together contribute another 10% to Repsol's entire worldwide production. A sizeable increase that would hardly dent their $10B acquisition war chest. So far no noses above the parapet, no share price movement, very little action to back up rumour and hearsay. Dismiss as absurdly unlikely or take heart and support the likelihood that all the delay this year in company advancement and the long silence will, very shortly, amount to an announcement that could prove something special and rewarding.

No I can't but neither can you say categorically that it will never ever happen. Granted the likelihood is more with your thinking, if it doesn't happen I'll not be too surprised and if it does I'll be delighted and move my money on.

The rumor (sic) is not obviously untrue. Repsol are reported to be interested in acquiring a number of small, productive companies for their portfolio, not simply one huge purchase. Should there be a sensible offer, one worthy of consideration, I would imagine it to be in the 25-35p region. I'm well aware of what they've achieved and what they possibly could in the future. But, to possibly gain 4 to 6 times the present price in the next few months compared to similar value enhancement over what, 2 to 3 years, maybe more?...short cut to large profit v. welcome. Common sense.

You could take the rather obvious view that this chap Hardy who posted the Repsol revelation on Stockopedia did so in order to sell his shares in a rising market. Didn't really work for him, although he may have been the distressed owner of the 650K I referred to in my last post, and the sales genuine. We've all been led up the garden path by false prophecy but, fwiw, I genuinely believe there's moves afoot by some company, be it Repsol or other, to take Edge out. At the right price can't happen soon enough for me!

My point was that a 30% acquirement, or maybe in Canada thereabouts, is a tipping point for intentions to be known. So if an interested party with a view to a takeover could acquire HGI current holding (for a couple of months they showed willing to divest themselves of 25%) and then gain a further 3 point something million shares they would then trigger an offer. Is it Repsol?.. each is as wise as the other at the moment. As for these late, unreported buys well, so far we've had 2x250K, one yesterday and last Thursday and one 150K on Friday, all at 6.50p and on the three days in question the sp was marginally up on Thurs and no changes on Fri and today. A sell at 250K would usually bomb the sp. So, very very hard to read anything into these transactions or specifically price conducted. One thing for sure. We have to receive Q2 plus MDA by Friday 21st Nov latest. Brad is well aware of the Repsol rumour and the frustration felt due to delayed issue of capital plan. If he doesn't make the situation crystal clear about both issues by or on the 21st my feelings are they'll be big questions about how he's running this company.

Perhaps worth bearing in mind that HGI, a crucially important party, hold around 27% of Edge. If a deal is in the process of being done involving this shareholding then a further 3.5m approx. shares would be required by the acquirer to surpass the 30% holding level where, under the UK takeover code at least (Canadian TSX rules may be similar or close) there is, and I quote, an obligation (subject to certain limited exceptions) to make a mandatory cash offer for the remaining shares of the company where a person (together with their concert parties): (i) acquires an interest in shares which carry 30 per cent or more of the voting rights of a company or (ii) holds an interest in shares which carry between 30 and 50 per cent of the voting rights and makes a further acquisition of an interest in shares. HGI holding plus roughly 15 x 250K buys and Repsol?/someone should show their face.

Reckon it gets better... Just had a reply to my 'thanks Brad email reply' Simply stated, Sorry I couldn’t say more… Says enough for me! To bed, a crappy day just got a whole lot better!!

MADRID, Nov 2 (Reuters) - Spanish oil firm Repsol is set to accelerate a $10 billion acquisition drive to take advantage of lower U.S. shale valuations in the face of falling oil prices and eventually fill a gap left by the 2012 seizure of its Argentine business. The cash-rich group has been on the hunt for oil and gas assets for months as it tries to reduce its heavy exposure to conflict-ridden regions such as Libya and Venezuela and to protect itself from any takeover bid from bigger international competitors. After failed attempts at deals with Talisman and Pacific Rubiales of Canada and Norway's Marathon Oil , it continues to pursue oil and gas targets in OECD countries that offer a 7 or 8 percent investment return, sources familiar with the matter said. The sources would not be drawn on which companies Repsol is potentially pursuing. Repsol is trying to reduce a shopping list of potentially tens of small companies or assets to just a handful, with the finalists likely to be those targets that offer oil wells already in production as well as an entry point in the U.S. shale industry.

Unfortunately I cannot comment on the article. Edge is currently in a closed period, which makes me commenting on almost anything rather difficult at the moment. I apologize. Regards, Brad

This 'release' first found on iii mid-afternoon today, hardly spotted by anyone, trades bear that out. This guy Hardy seems a relative newcomer but certainly writes with authority so no real reason to doubt. I've copied Brad with the text, see if we get a reaction.

Fantastic find Womo, incredibly great if the offer's right. We should know very soon!

Spot on tetchy, excellent post and says it all. Suggest we keep faith in Brad’s abilities, believe that important developments are happening and stop worrying about lack of official communication that will only come when plans are complete and Brad is ready to release. Only fools and desperados will exit at the current price. We know that Nov 21st is 12 weeks on from the last MDA release so within 3 weeks this plus Q2 financial statement will arrive via RNS. Brad has shown a liking in the past to lump news together so the key news we’re waiting for may well be included in one bumper package. Meanwhile the wily investor will beg borrow or steal to add at this much oversold price.

Thanks tdalamh, another out of date piece of info on Edge's website then.

tdalamh, doubt whether you'll hear from the above, they specifically communicate with Canadian shareholders. Buchanan are Edge's UK PR firm, try contacting Louise Mason or Tom Hufton, email edgeres@buchanan.uk.com

ISDX showing a buy of 225,622 @ 7.4 going through at 13.29. Presumably yours, could prove to be exquisite timing.

Revenues of £12m? I wish! Last years takings were £5.5m. EDG since have had three months of 1m CDN$ (£550K) but even if we had every month producing similar monies we'd be roughly half your figure. Another 5 producing wells may get us there.

A commodity swop contract, an 'EDG hedge' has been in place since April '14, covers just over 10% of oil production and expires end of March next year. It covers 70bod @ CDN$ 91.4 plus 800GJ/day @ CDN $3.55 per GJ. With oil currently around 78CDN$ (US$69.5) it's obviously running in our favour at present. Regarding WTI/WCS the differential used to be $21 a barrel in mid-June, and much more before, and now is only around $13. Falling Canadian dollar exchange rate is helping because the cost is computed in Canadian dollars while the revenue from exports is in US dollars.

It may understandably stretch patience but, seriously, any shareholder seeking a good news announcement in a troubled market when anything positive released falls only on stony ground is nothing short of stupid and really shouldn't dabble in the share market. Do you really want to see a much-awaited news release nullified by the market? There are massive forces at play within the global oil industry, let them play out which in time of course they will, then decide if your management has fallen down with their responsibilities to shareholders or played it to their best abilities in judging their timing right for maximum effect.

Brad stressed 'conservative and balanced between acquisitions and drilling on our existing property.' I'd suggest 12 new wells too high an expectancy to be construed as 'conservative' , I would hope for between 6 and 8, anything less would be a disappointment to already slow progress as we know there's a huge runway of drilling opportunities at Eye Hill East. It depends on the cost of acquisition (10 to 1 the cause of announcement delay) which I would hope to be contiguous to this acreage. Like belgrano I wouldn't mind a JVP, with a larger wealthier near neighbour who may well run the rule over EDG and like what they see. We should soon know.

Filtered, you just spout a load of annoying twaddle that's not worth reading even apart from making any sense. "Don't let him beat you there is something afoot and he only wants his mate's to benefit. He wants private holders to sell up so his mate's can scoop up" What ludicrous and shameful drivel.